KENYA ROLLS OUT 25.24 BLN USD HOUSING PROGRAMME TO DELIVER ONE MLN UNITS

NAIROBI, The Kenyan government has rolled out a 2.6 trillion shillings (about 25.24 billion US dollars) housing programme aimed at delivering one million housing units over the next five years.

The government will be partnering with County governments in the programme which will involve the construction of 200,000 social housing units and 800,000 low cost affordable units to be funded by the private sector through various initiatives.

Kenya is urbanizing at a rate of 4.3 per cent but this rapid growth in urban populations is not matched by comparable infrastructural development, industrialization and growth in manufacturing industries, resulting in a number of challenges including urban sprawl, increased poverty and growth of informal settlements.

Kenya has an annual housing deficit of 200,000 housing units and in its efforts to close the deficit, the government has embarked on an ambitious strategy of facilitating the delivery of one million Affordable Housing Units over the next five years.

Housing Cabinet Secretary (Minister) James Macharia has urged County Governments to fast-track the approval process through establishment of One-Stop Approval Shops to tap into the opportunities provided by urbanization.

It is projected that by the year 2030, Kenya’s urban population will be more than 22 million people and the number will increase further to about 40 million by 2050.

Source: NAM NEWS NETWORK